Purpose: The relationship between financial inclusion and economic growth is an intriguing topic that is generating extensive attention among researchers and merits comprehensive investigation. This paper aims to empirically explore this relationship using panel data for 13 Middle Eastern and...

To clarify the causal links between financial activity and economic growth, three theoretical models are analyzed and a structural equation path models is estimated. In the modeling part, poverty traps result from large fixed costs or high proportions of real investment to run a financial...

The employment of financial development indicators without due consideration to country/regional specific financial development realities remains an issue of substantial policy relevance. Financial depth in the perspective of money supply is not equal to liquid liabilities in every development...